The Monetary Authority of Singapore (MAS) has announced the launch of a S$35 million Productivity Solutions Grant (PSG) for the financial services sector to help smaller financial institutions adopt digital solutions for more streamlined data reporting to MAS. The grant is currently applicable to...
Tax procedures and policies can often be difficult for the average small business to navigate. The Singapore government has deployed considerable personnel as well as technological resources to make the SME's tax filing procedures less cumbersome over the years. In this interview, we talk...
Despite weathering some of the most challenging times ever faced in their entrepreneurial journey, Singapore’s SME community remains undaunted, with three-quarters of SME owners saying that they continue to be ‘optimistic’ and ‘determined’ to face the road ahead. However, in a sign of creeping...
The Ministry of Law intends to introduce a Re-Align Framework to help businesses that have been significantly impacted by COVID-19 renegotiate selected types of contracts with their counterparties to realign with current economic conditions and business objectives. This framework is provided for in the...
The People’s Association (PA) organised a special edition Project We Care Dialogue on 22 October 2020. Themed #EmergeStronger, the event provided a platform where business leaders under the Project We Care Network exchanged ideas and shared business solutions amidst their concerns and challenges faced during the COVID-19...
While 83 percent of small and medium enterprises (SMEs) in Singapore now have digital transformation strategies in place, more than half (54 percent) reported delays in their digitalisation plans due to COVID-19. Also, despite higher adoption of digital transformation, only two in five SMEs...
DBS and the Singapore Tourism Board (STB) have announced a three-year Memorandum of Understanding to stimulate domestic tourism demand in the immediate term, as well as drive cross-border demand and catalyse tourism industry development in the mid- to long-term. The partnership, a first-of-its-kind collaboration between STB and a local bank, will leverage...
Xero has released a study investigating how small and medium enterprises (SMEs) in key markets around the world have responded to COVID-19, revealing the challenges and resulting actions taken to reinvent themselves and thrive. The commissioned study conducted by Forrester Consulting on behalf of...
SWIFT and Singapore’s Infocomm Media Development Authority (IMDA) have signed a Memorandum of Intent (MOI) to accelerate trade digitalisation globally. The MOI looks at offering SWIFT’s community of more than 11,000 financial institutions and corporates in over 200 countries and territories more efficient and...
In pursuit of its Smart Nation vision, the Singapore government has implemented a range of policy measures to develop digital skills and literacy, including introducing programmes to teach basic digital skills so that no one is left behind. According to INSEAD’s 2020 Global Talent Competitiveness...